Tech Mahindra, Infosys, HCL Technologies, Mahindra & Mahindra, Tata Consultancy Services and Power Grid were among the laggards.
Equity benchmark indices Sensex and Nifty opened on a positive note in early trade on Thursday amid buying in blue-chip stocks such as HDFC Bank and State Bank of India.
The BSE benchmark Sensex rose 95 points to 80,329.08 in early trade. The NSE Nifty rose 48.15 points to 24,323.05.
HDFC Bank, Adani Ports, ITC, State Bank of India, Hindustan Unilever, Tata Motors, IndusInd Bank and Tata Steel were among the gainers in the 30-share Sensex pack.
Tech Mahindra, Infosys, HCL Technologies, Mahindra & Mahindra, Tata Consultancy Services and Power Grid were among the laggards.
On Wednesday, foreign institutional investors (FIIs) bought shares worth Rs 7.78 crore, according to exchange data.
“The market is likely to continue to remain in a phase of consolidation in the near future. One clear positive for the market is that the relentless selling by foreign institutional investors (FIIs) has stopped. This will give retail investors the confidence to start buying aggressively again.
“But there is no room for so much optimism. A strong dollar is negative for emerging markets and hence, FIIs are unlikely to become aggressive buyers,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services.
In Asian markets, Seoul and Tokyo were trading in the green, while Shanghai and Hong Kong were trading lower.
Vijayakumar said large institutions would prefer to wait for clarity on US President Donald Trump’s policies and its likely impact on trade and the global economy.
Global oil benchmark Brent crude fell 0.21 per cent to $72.68 per barrel.
On Wednesday, the BSE benchmark index closed 230.02 points, or 0.29 per cent, higher at 80,234.08. The Nifty closed 80.40 points, or 0.33 per cent, higher at 24,274.90.
